June 2008/2

Hedge fund giant Man Group has acquired a 25 percent stake in Bermudian investment manager Nephila Capital for $50mn.

Risk modelling firm Risk Management Solutions (RMS) has launched its second natural catastrophe index under the Paradex banner, that it says will lead to earlier loss settlement.

Markel International and QBE have won their bond fraud case brought against executives of Surety Guarantee Consultants Ltd (SGC) and a former Templeton Insurance director in the UK High Court.

The dispute between Randall & Quilter (R&Q) affiliate Cavell USA and private equity owned run-off insurers Seaton Insurance Co and Stonewall Insurance Co is set for an airing in the English courts this autumn.

Arthur J Gallagher International’s new joint venture onshore/offshore "boutique" energy subsidiary has begun trading as Alesco Risk Management Services, as predicted by The Insurance Insider.

Suncorp CEO John Mulcahy has cast doubt over whether QBE will make a serious play for the company after questioning if a tie-up between the firms would be an "appropriate combination".

Energy and property start-up Torus Insurance is set for a 1 July launch after securing backing from First Reserve Corporation, The Insurance Insider revealed last week.

UK-based wholesale broker Price Forbes & Partners has poached Mark Simons from JLT Park to head up its new Bermuda operation.

The Royal Bank of Scotland (RBS) received some positive news after the bank revealed over 95 percent of shareholders had subscribed to its £12bn rights issue.

Amlin Plc's star head of underwriting, Tony Holt has resumed work at the Lloyd's insurer following a temporary leave of absence for medical treatment, the group has announced.

Willis has committed to phasing out its newly acquired contingent commissions within three years following its announced acquisition of Hilb Rogal & Hobbs (HRH) for $2.1bn.

Florida property reinsurance underwriters are set to find out tomorrow (10 June) whether they will benefit as a result of fresh demand from the state’s hurricane cat fund.